Some interesting responses around the media.
- Financial Times (Fast FT) headlines: “RBA may lower rates to boost housing market “
I must say, that is not the impression I got from the minutes. Sure, they may, but they seem to be leaning away from rate cuts for the time being. If you have Fast FT, there is a brief article accompanying the headline.
- Reuters seem to be much closer to the mark: “Australia’s central bank again left the door open to further interest rate cuts but signalled no urgency to act because there was a substantial amount of policy stimulus already in place”
- Bloomberg, too: “RBA Says Rate Cuts Still Possible, Signals No Moves Imminent”
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AUD/USD has stabilised somewhat around 0.9525/30 and short-term traders may want to attempt a short around here. I wouldn’t be too patient with a short, though, it has shown itself to be strong on dips and a hesitancy to fall from here could well see renewed buyers emerge as we approach the UK timezone. Short is probably worth a quick punt, though. Comments welcome, as always.
